Harbour Investments Inc. Sells 689 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Harbour Investments Inc. reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,230 shares of the company’s stock after selling 689 shares during the period. Harbour Investments Inc.’s holdings in American Electric Power were worth $947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AEP. Nations Financial Group Inc. IA ADV boosted its holdings in shares of American Electric Power by 9.8% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,305 shares of the company’s stock valued at $750,000 after purchasing an additional 649 shares during the period. Venturi Wealth Management LLC increased its position in shares of American Electric Power by 31.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,615 shares of the company’s stock valued at $166,000 after acquiring an additional 391 shares during the period. Addison Advisors LLC increased its position in shares of American Electric Power by 510.4% in the 3rd quarter. Addison Advisors LLC now owns 5,506 shares of the company’s stock valued at $565,000 after acquiring an additional 4,604 shares during the period. Kennebec Savings Bank acquired a new stake in American Electric Power during the 3rd quarter worth about $304,000. Finally, Ashton Thomas Securities LLC grew its position in American Electric Power by 19.1% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,424 shares of the company’s stock worth $454,000 after purchasing an additional 709 shares during the period. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AEP. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Guggenheim raised their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets cut their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Barclays lifted their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Up 0.5 %

American Electric Power stock opened at $93.76 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a market cap of $49.89 billion, a PE ratio of 18.70, a P/E/G ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm’s 50 day moving average price is $100.04 and its two-hundred day moving average price is $95.09.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.